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Why Immersion (IMMR) Outpaced the Stock Market Today
Immersion (IMMR - Free Report) ended the recent trading session at $8.51, demonstrating a +1.07% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.53%. Meanwhile, the Dow experienced a rise of 0.38%, and the technology-dominated Nasdaq saw an increase of 0.25%.
Shares of the touch-based technology company witnessed a loss of 3.55% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 0.75% and the S&P 500's gain of 1.24%.
The investment community will be closely monitoring the performance of Immersion in its forthcoming earnings report.
Any recent changes to analyst estimates for Immersion should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Immersion is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Immersion is holding a Forward P/E ratio of 5.36. This represents a discount compared to its industry's average Forward P/E of 13.09.
The Computer - Peripheral Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 72, which puts it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.